EL 27416 and EL 27420 Second annual report for Waterloo for the year ended 12 May 2012

Abstract

Exploration activities conducted by Proto Resources and Investments Ltd (Proto) and their JV partners are based on the possibility of the Antrim Plateau Volcanics (as part of the Kalkarindji Volcanic Group) hosting economic 'Norilsk-style' Ni-Cu-PGE mineralisation. Work during the reporting period has included: Commencement of the Research projects headed by Dr Mike Widdowson of the Open University (UK) and Dr David Murphy of the Queensland University of Technology (QUT) including field visits, stratigraphic traverses and review of previous BMR drilling in the region; and Preparation, planning and execution of the semi regional Gravity survey. Preliminary gravity results highlighted the Blackfella Creek Fault (oriented in a NE-SW direction) and several discrete gravity anomalies were identified.